For more than 17 years, exchange-traded funds investors and traders alike knew just nine sector SPDRs, but that changed in October with the debuts of Financial Services Select Sector SPDR Fund (The)(NYSE: XLFS) and Real Estate Select Sector SPDR Fund (The) (NYSE: XLRE).
The New SPDRs
State Street Corp (SPDR Barclays Short Term Treasury ETF (NYSE: STT))'s State Street Global Advisors unit introduced the new ETFs ahead of real estate becoming the eleventh Global Industry Classification Standard (GICS) sector. That change is scheduled to occur after markets close on August 31, 2016.
In November 2014, S&P Dow Jones Indices and MSCI, two of the largest providers of indices for use with ETFs, announced real estate – previously included as part of the financial services group – would become its own sector.
Real estate becoming its own sector may be the impetus behind the launches of XLFS and XLRE, ...
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